(TCO B) Adjusting Entries:

Aug 26th, 2015

Anonymous

Category:

Accounting

Price: $10 USD

Question description

(TCO B) Adjusting Entries: Accumulated
depreciation-machinery at 1/1/1X was $150,000. At 12/31/1X, the balance
of the account was $300,000. During 201X, one piece of equipment was
sold. The equipment had an original cost of $100,000 and was 1/2
depreciated when sold. You are to prepare the missing adjusting entry.
For each journal entry write Dr. for debit and Cr. for credit.